Dec. 13, 2010
TOYO TIRES to Increase Commercial Tire Price in Japan
TOYO TIRE & RUBBER CO., LTD. (President and CEO: Kenji Nakakura,” The Company”) today announced that effective March 1, 2011 it will increase the price of tires for Commercial (Truck and Bus Tire,Commercial Light Truck Tire and other) sold in the Japanese Domestic replacement market an average of 7.0 (seven) %. This applies to both summer and winter tires of TOYO TIRES.
The price of natural rubber, main raw material of the tire, has continued to increasing as a record high level. Petrochemical raw materials such as synthetic rubber, carbon black also has been keeping at high price level.
The Company has made effort to minimize raw material prices through product mix and cost rationalization. However, internal measures by The Company can not cover the raw material price increases.
TOYO TIRE & RUBBER CO., LTD. CORPORATE COMMUNICATIONS PLANNING
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